Short Interest in Lenovo Group Ltd. (OTCMKTS:LNVGY) Increases By 1,678.6%

Lenovo Group Ltd. (OTCMKTS:LNVGY) was the recipient of a large growth in short interest in August. As of August 14th, there was short interest totaling 718,862 shares, a growth of 1,678.6% from the July 30th total of 40,418 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 399,939 shares, the short-interest ratio is currently 1.8 days.

Analysts Set New Price Targets

Separately, Zacks Research downgraded shares of Lenovo Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Lenovo Group Stock Up 5.0%

Shares of Lenovo Group stock traded up $3.78 on Tuesday, hitting $79.86. 398,033 shares of the company’s stock traded hands, compared to its average volume of 339,208. Lenovo Group has a 52-week low of $21.00 and a 52-week high of $89.99. The company has a quick ratio of 0.66, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The stock has a market cap of $49.53 billion, a P/E ratio of 77.53 and a beta of 1.14. The firm’s 50-day moving average is $64.44 and its 200 day moving average is $43.82.

About Lenovo Group

Lenovo Group is a multinational technology company known primarily for the design, manufacture and sale of personal computers, servers, storage and smart devices. Its product portfolio spans consumer and commercial PCs (notable brands include ThinkPad, IdeaPad, Yoga and Legion), workstations, enterprise-class ThinkSystem servers and storage, as well as tablets, smartphones (notably through its Motorola Mobility acquisition), smart home devices and related software. Lenovo also provides IT services and solutions, including systems integration, managed services and lifecycle support for enterprise customers.

The company traces its origins to 1984 when it was founded in Beijing as Legend by Liu Chuanzhi; it later adopted the Lenovo name and expanded through a series of strategic acquisitions.